Two insurers have appealed a ruling that could provide a further $11.25 million to group members in a class action against sandalwood producer Quintis, further delaying finalisation of a settlement reached in the group proceeding over a year ago.
A lengthy dispute over insurance in a settled class action against sandalwood producer Quintis has been resolved, with the Federal Court rejecting a challenge by two insurers to the rectification of policies that could provide a further $11.25 million in recoveries to group members.
A lawsuit seeking to increase D&O insurance for sandalwood producer Quintis in the wake of a class action settlement has fallen short of the $40 million in additional coverage sought, but a Federal Court decision may see a further $11.25 million go to group members.
The prefab concrete specialist behind Sydney’s Opal Tower has appealed a ruling letting its insurers off the hook to pay costs in advance incurred in defending cross-claims in two lawsuits over the ill-fated tower.
The prefab concrete specialist behind Sydney’s Opal Tower has lost a courtroom bid to have its insurer pay costs in advance incurred in defending cross-claims in two lawsuits over the ill-fated tower.
Insurers of sandalwood producer Quintis have told a court that a rectification suit brought by the applicants in two class actions seeking to increase D&O coverage by $40 million, “makes no sense”.
Insurance policies that may be worth up to $46 million and have derailed settlement approval in two class actions against sandalwood producer Quintis were “cobbled together” and contained errors and omissions, a court has heard.
A private investment fund has failed again in its bid for damages from collapsed global advisory firm Babcock & Brown over a botched $1.4B acquisition of a US-based laundry equipment provider.
A judge will ask the NSW Attorney General to launch a criminal or regulatory investigation into a Hunter Valley-based financial advisor whose alleged fraudulent conduct led to investor losses of over $4.6 million.
A judge has ordered all proceedings against Dick Smith to be heard concurrently during a marathon three month trial, after the plaintiffs in a shareholder class action brought against the failed electronics retailer’s insurers aborted a fleeting bid to temporarily discontinue their case.